Commerzbank and Fraunhofer IML Cooperative Block Chain Trade Financing Project


nnnFraunhofer IML, the most authoritative logistics planning and research organization in Europe, cooperates with German commercial bank Commerzbank to develop future supply chains based on block chains and smart contracts. Combine IoT with block chains to make transactions faster and safer, creating miracles for liquidity management. For customers to explore a variety of digital logistics solutions, the use of block chain will be the financial supply chain and physical supply chain together.n
nnTranslation: Annie_Xun
nCooperzbank and Fraunhofer IML, Fraunhofer Institute for Material Flow and Logistics (IML), the “Future Supply Chain” project, involving block chains and automated processes based on the technology – smart contracts.n
nThe agency combines its expertise in the supply chain area and the most lively technology in the field, namely, the digitization of trade finance and the tracking of goods through real-time input of distributed books.n
nFraunhofer IML pointed out that the future of global trade will be popular “talking” containers. The combination of IoT and block chains will make transactions faster and safer, creating miracles for liquidity management.n
nCommelzbank Trade Finance and Cash Management

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